SummitTX Capital L.P. increased its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 252.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,091 shares of the industrial products company's stock after purchasing an additional 10,098 shares during the quarter. SummitTX Capital L.P.'s holdings in Parker-Hannifin were worth $12,615,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of PH. HFM Investment Advisors LLC boosted its holdings in Parker-Hannifin by 1,000.0% in the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company's stock worth $29,000 after buying an additional 30 shares during the period. Texas Capital Bancshares Inc TX bought a new stake in Parker-Hannifin during the third quarter valued at about $25,000. Lloyd Advisory Services LLC. purchased a new position in shares of Parker-Hannifin in the fourth quarter valued at about $31,000. NFSG Corp boosted its stake in shares of Parker-Hannifin by 94.4% in the first quarter. NFSG Corp now owns 35 shares of the industrial products company's stock worth $31,000 after acquiring an additional 17 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC grew its position in shares of Parker-Hannifin by 80.0% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company's stock worth $32,000 after purchasing an additional 16 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently commented on PH shares. Sanford C. Bernstein reissued an "outperform" rating and issued a $1,037.00 price target on shares of Parker-Hannifin in a report on Thursday, July 16th. JPMorgan Chase & Co. lowered their target price on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating on the stock in a report on Thursday, May 7th. Evercore set a $1,064.00 target price on shares of Parker-Hannifin in a research note on Monday, May 11th. Mizuho set a $1,050.00 price target on shares of Parker-Hannifin in a research note on Friday, May 1st. Finally, Truist Financial increased their price objective on shares of Parker-Hannifin from $1,147.00 to $1,269.00 and gave the company a "buy" rating in a report on Thursday, July 2nd. Eighteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus target price of $1,027.38.
View Our Latest Analysis on Parker-Hannifin
Parker-Hannifin Trading Down 0.1%
Shares of NYSE PH opened at $986.17 on Monday. Parker-Hannifin Corporation has a 1-year low of $692.02 and a 1-year high of $1,034.96. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. The business's 50 day moving average is $922.26 and its two-hundred day moving average is $936.20. The stock has a market capitalization of $124.34 billion, a P/E ratio of 36.38, a PEG ratio of 2.64 and a beta of 1.11.
Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.84 by $0.33. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.40 billion. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The company's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the company earned $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, research analysts expect that Parker-Hannifin Corporation will post 31.26 EPS for the current year.
About Parker-Hannifin
(
Free Report)
Parker-Hannifin Corporation NYSE: PH is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.
Parker-Hannifin's product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.
Further Reading
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